NEW YORK, May 5, 2016 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of IMS Health Holdings Inc. ("IMS" or the "Company") in connection with the proposed acquisition of the Company by Quintiles Transnational Holdings Inc. ("Quintiles"). On May 3, 2016, the Company announced it had reached a definitive agreement for Quintiles to acquire all outstanding shares of IMS in a transaction valued at approximately $23 billion. Under the terms of the agreement, IMS shareholders will receive 0.384 shares of Quintiles for each IMS share they own.
WeissLaw LLP is investigating whether the IMS Board acted to maximize shareholder value prior to entering into the agreement with Quintiles. Notably, the offer represents consideration of $24.97 per share, based on Quintiles's May 4, 2016 closing price. On that same day, the Company's shares traded above the offer price and closed at $25.02; the consideration is also $8.55 lower than IMS's 52 week high of $33.52. Further, an analyst set a target price of $32.00 per share, or $7.03 above the offer price. Finally, on May 3, 2016, the Company also announced positive financial results for the first quarter of 2016. It reported revenues of $774 million, representing an increase of 25.2% year-over-year, on a constant currency basis.
Given these facts, WeissLaw is investigating the Board of Directors' decision to sell IMS and whether IMS shareholders will obtain their fair share of the Company's continued success and future growth prospects. If you own IMS shares and would like more information about your rights or our investigation, please contact Joshua Rubin either by telephone at (888) 593-4771 or by email at [email protected].
WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at [email protected] or fill out the form on our website, http://www.weisslawllp.com/contact/report_fraud/.
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